Wisconsin's Uniform Trust Decanting Act 2024

This program is an excerpt from Legal Issues of the Aging 2024.

Decanting developments

Effective March 23, 2024, the Wisconsin Uniform Trust Decanting Act (UTDA) introduced new rules for trust decanting, which are now incorporated into the Wisconsin Trust Code. The act provides clearer guidelines for modifying or transferring trust assets, modernizing and standardizing Wisconsin’s decanting rules in line with other jurisdictions that have adopted the UTDA.

Receive valuable insights and guidance on the ins and outs of the new law at Wisconsin’s Uniform Trust Decanting Act. Veteran practitioner Mark T. Johnson will provide clarity on key terminology under the new act, as well as general provisions for decanting relating to:

• Protection of charitable interests
• Fiduciary duties
• Tax-related provisions
• Limitations on decanting

You’ll walk through real-world examples of decanting for:

• Discretionary trusts such as spendthrift or special needs trusts
• Trusts with an ascertainable or reasonably definite standard
• A first trust that should have been a special needs trust

Plus, you’ll receive a “roadmap to decanting” and a chart of options for trust modifications that compares decanting with other methods and spells out specific requirements for notice, court involvement, and consent.

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